Core Summary
- Securitize and Cantor Fitzgerald announced their collaboration on July 15, 2026, to jointly build...Tokenized IPOs and Subsequent Stock OfferingsInfrastructure framework.
- The framework willWithin the existing U.S. securities law systemSecuritize provides tokenization technology and access to SEC-registered brokerages, while Cantor provides equity capital markets and trading capabilities.
- Securitize just completed its SPAC merger and listed on the NYSE (SECZ) on July 2nd, and will debut on the NYSE on [date missing]. $2.95 million in proprietary stock tokenizationTo Solana and Avalanche.
- The total size of the tokenized stock market has reached $ 19 millionDTCC, in conjunction with 40 financial institutions, is piloting the tokenization of stocks and U.S. Treasury bonds.
- Securitize is currentlyThe only company holding regulated digital securities infrastructure licenses in both the US and EuropeThe company (US SEC registered ATS + EU DLT pilot program TSS).
📑 Table of Contents
- Cooperation Framework: How Tokenized IPOs Work — The division of roles and regulatory compliance framework between the two agencies
- Timeline Background: From SPAC Listing to Infrastructure Co-construction — Securitize's NYSE listing and SPAC merger path
- Industry Overview: Tokenized Stock Market Expands Rapidly — A $19 billion market size, the DTCC pilot program, and Wall Street involvement
- Compliance Architecture: How DS Protocol Incorporates Compliance into Every Transaction — Implementation of regulations at the technical level
- Licensing Landscape: The Global Significance of Dual Licensing in the US and Europe — The only transatlantic regulated digital securities infrastructure
This article was originally written by the Aiying Compliance Team and requires authorization to be reproduced.
On July 15, 2026, tokenization platform Securitize and Wall Street investment bank Cantor Fitzgerald jointly announced a collaboration to develop an infrastructure framework for tokenized IPOs and subsequent stock issuances for listed companies . This collaboration is not a one-off proof-of-concept, but rather targets the core primary market segment of traditional capital markets—Initial Public Offerings and Share Offerings—and aims to move the entire process onto the blockchain. For the rapidly evolving tokenized securities market, this collaboration sends a signal far beyond a business alliance between the two companies.
Cooperation Framework: How Tokenized IPOs Work
Securitize's role: Tokenization infrastructure and regulated trading gateway
According to the partnership announcement, Securitize will provide the tokenization technology infrastructure for issuing, distributing, and servicing digital securities . Its SEC-registered brokerage affiliate, Securitize Markets, LLC, will participate in the issuance and settlement process. Securitize Markets not only holds an SEC-registered brokerage license but also operates an SEC-regulated alternative trading system (ATS) —meaning that tokenized shares will have a compliant secondary market trading venue immediately after issuance.
In addition, Securitize provides share registration services through its SEC-registered transfer agent (Securitize Transfer Agent, LLC), forming a complete closed loop from issuance and registration to trading. This combination of licenses allows Securitize to manage the entire lifecycle of tokenized securities without relying on third parties within the existing U.S. securities law framework.
Cantor Fitzgerald's role: Equity Capital Markets and Traditional Underwriting Capabilities
Cantor Fitzgerald will contribute its equity capital markets (ECM) and trading capabilities , which are often core components of traditional IPO underwriting. As an 80-year-old Wall Street financial institution, Cantor's experience in pricing, distribution, and market making can compensate for the shortcomings of pure crypto-native institutions in traditional capital markets operations.
It's worth noting that the two companies already have a deep foundation of cooperation—Securitize was able to list on the NYSE on July 2nd through a merger with Cantor's special purpose acquisition company (SPAC), Cantor Equity Partners II. This IPO infrastructure collaboration is a further upgrade based on that successful merger.
Timeline Background: From SPAC Listing to Infrastructure Co-construction
July 2: SECZ listed on the NYSE and immediately tokenized its own shares on the first day of trading.
Securitize's SPAC merger closed on July 1st and began trading on the NYSE under the ticker symbol SECZ on July 2nd. The deal valued the company at approximately $12.5 billion (pre-money), raising approximately $400 million through the SPAC trust and PIPE financing . Notably, less than 30% of SPAC shareholders opted for redemption—in a market environment where SPAC redemption rates have generally been 80-90% since 2021, this retention rate represents a clear acceptance by institutional investors of the transaction terms and regulatory environment.
A more crucial move occurred on the same trading day as its listing: Securitize tokenized $2.95 million of its own common stock and put it on the blockchain via Solana and Avalanche. This marks the first time a U.S.-listed company has independently tokenized its NYSE- listed shares since the SEC issued its employee statement on tokenized securities in January 2026. Unlike third-party synthetic tokenization products (which only track stock prices without voting rights, information rights, or other shareholder rights), Securitize's issuer-driven tokenization directly integrates blockchain records into the official shareholder register, making the token transfer a formal share transfer.
July 15: Cooperation upgraded to primary market infrastructure
This announced IPO infrastructure partnership extends Securitize's technological capabilities from secondary market management of issued shares to the primary market stages of initial public offerings (IPOs) and follow-on offerings . This means that companies seeking to go public in the future can choose to issue tokenized securities through this framework to complete the traditional IPO process.
Industry Overview: Tokenized Stock Market Expands Rapidly
Market size and growth trend
According to data from RWA.xyz, the total value of on-chain tokenized stocks has grown by 16% in the past 30 days , reaching nearly $19 billion . This growth rate surpasses that of the broader digital asset market. Driving factors include: continued investment in tokenized funds by large asset management firms (Securitize manages over $40 billion in AUM , with partners including BlackRock, Apollo, KKR, Hamilton Lane, etc.), the gradual clarification of the regulatory framework, and traditional financial institutions' recognition of the efficiency of blockchain settlement.
DTCC's pilot program with 40 organizations
The Wall Street Journal reported on July 15 that the Depository Trust and Clearing Corporation (DTCC) plans to pilot the tokenization of stocks and U.S. Treasury bonds with approximately 40 financial companies , including JPMorgan and Goldman Sachs. Pilot assets include Microsoft (MSFT) and Circle (CRCL) stocks, as well as ETFs tracking the S&P 500, Nasdaq 100, and short-term U.S. Treasury bonds. The DTCC previously announced in May that it aims to launch tokenized trading services in October 2026 .
This trend indicates that tokenized securities are rapidly penetrating mainstream equity instruments in the public market , moving away from niche areas such as private lending and government bonds . Securitize's partnership with Cantor on IPO infrastructure comes at a crucial juncture in this evolutionary path.
Compliance Architecture: How DS Protocol Incorporates Compliance into Every Transaction
Two-tier contract architecture: Compliance Service + Registry Service
Securitize's core technological advantage lies in its DS Protocol (Digital Securities Protocol) , an Ethereum-based smart contract framework currently in its fourth version. This protocol overlays two layers of compliant contracts on top of standard ERC-20 tokens:
The first layer: Compliance Service – Before each transfer is executed, the system intercepts and assesses whether the recipient meets investor eligibility criteria, including accredited investor status, jurisdictional restrictions, and investor limit (subject to securities exemptions). If a transfer is rejected, the system returns a machine-readable error code clearly stating the reason for the violation, rather than silently failing.
The second layer: Registry Service – This system tracks holdings not by wallet address, but by investor identity . This design directly addresses regulators' concerns about the anonymous holding and cross-border transfer of tokenized securities.
This "compliance is code" architecture enables Securitize to run tokenized securities on public chains such as Solana and Avalanche, while simultaneously meeting the SEC's compliance requirements for securities issuer transfer agents. Norton Rose Fulbright's analysis of the SEC framework confirms that when an issuer integrates distributed ledger technology into the master security holder's profile, "the transfer of crypto assets on the crypto network constitutes a securities transfer in the master security holder's profile."
Licensing Landscape: The Global Significance of Dual Licensing in the US and Europe
United States: Full-stack licenses from brokerage firms to ATS
Securitize holds four key licenses in the United States: SEC Registered Broker (Securitize Markets), SEC Regulatory ATS , SEC Registered Transfer Agent (Securitize Transfer Agent), and Securitize Capital ( Exempt Reporting Advisor ). This portfolio covers the four core aspects of securities issuance, registration, trading, and advisory services.
Europe: TSS Licensing under the DLT Pilot Scheme
In Europe, Securitize, through its subsidiary Securitize Europe Brokerage and Markets, SA, holds full authorization for investment firms and operates its Trading and Settlement System (TSS) under the EU's DLT pilot scheme. This makes Securitize the only company globally to hold regulated digital securities infrastructure licenses in both the US and Europe —a dual-licensed status that constitutes a core trust advantage when collaborating with traditional financial institutions.
Three lessons for licensed institutions in the Asia-Pacific region
Securitize's approach provides a reference template for institutions in the Asia-Pacific region seeking tokenized securities licenses: First, holding a traditional securities license (broker/ATS/transfer agent) is a basic prerequisite for compliant issuance of tokenized securities; second, at the technical level, it is necessary to achieve automatic execution of on-chain identity and compliance rules (rather than relying on off-chain manual review); third, issuer-initiated tokenization has irreplaceable advantages over third-party synthetic products in terms of shareholder rights, legal certainty, and institutional trust.
FAQ
How does Securitize's tokenized IPO framework differ from existing US IPO processes?
The core difference lies not in the regulatory framework but in the technological infrastructure . The Securitize-Cantor framework still operates under existing SEC registration and disclosure requirements, but it uses blockchain as the underlying record-keeping system for stock issuance, registration, and transfer, rather than the traditional DTCC central escrow bookkeeping. This means that settlement cycles can be significantly shortened (evolving from T+2 to real-time settlement), and equity records can be automatically subject to compliance checks on the issuer's DS Protocol.
Why did Cantor Fitzgerald choose to partner with Securitize instead of other tokenization platforms?
Two key factors: First, Securitize holds SEC-registered brokerage, ATS, and transfer agent licenses , which are the minimum compliance requirements for any public market securities offering. Second, the two companies have established deep trust and business synergy through their SPAC merger—Cantor participated in Securitize's IPO process and has firsthand knowledge of its technology architecture and compliance system. Furthermore, Securitize's $40 billion in assets under management (AUM) and track record with institutions like BlackRock constitute institutional-grade credit recognized by Cantor.
Source: This article is based on data from CoinTelegraph (July 15, 2026) , Securitize official announcement (July 1, 2026) , TechTimes (July 3, 2026) and RWA.xyz.